VANCOUVER, British Columbia, Dec. 11, 2018 (GLOBE NEWSWIRE) — Westhaven Ventures Inc. (TSX-V:WHN) reports that it has completed airborne and ground geophysics at its 15,542 hectare Shovelnose gold property, located within the prospective Spences Bridge Gold Belt (SBGB), which borders the Coquihalla Highway 30 kilometres south of Merritt, British Columbia.
In November, 2018 a helicopter-borne high resolution aeromagnetic survey over the entire Shovelnose gold property was completed. A total of 2,376 line-kilometers was flown in a systemic low-level grid pattern at 75-metre line spacings. Subsequent to the completion of the airborne geophysics, ground magnetic and passive seismic surveys were initiated. The South Zone was first outlined by ground magnetics in 2017 as a northeast trending linear magnetic low anomaly and subsequently confirmed by diamond drilling.
The purpose of these programs was to increase magnetic coverage over the property and to help uncover and better define potential structural trends associated with a newly identified vein system that has wider sections of mineralization. A series of prominent southeast trending magnetic lows situated east and southeast of South Zone are of similar trend as to veining found at Tower and South zones, thus warrant further investigation. The data from these surveys will also be used to assist in diamond drill targeting proximal to South Zone. Please see the map below.
Shovelnose Gold Property Overview
There is evidence of a significant mineralized vein system within the property. Recent drilling intersected 17.77 metres of 24.50 g/t Au, including 6.78 metres of 50.76 g/t Au. For further information on the Shovelnose Gold Property, please visit: http://westhavenventures.com/projects/shovelnose-gold/details/
The Spences Bridge Gold Belt (SBGB)
Westhaven owns a 100%-interest in 4 properties covering over 35,000 hectares within the prospective SBGB, which is situated within a geological setting like those which host other significant epithermal gold-silver systems. It is close to major transportation routes and infrastructure allowing for cost-effective exploration. The SBGB is a 110-kilometre northwest-trending belt of intermediate to felsic volcanic rocks dominated by the Cretaceous Spences Bridge Group. Sable Resources and Westhaven have a combined control of 86% of the SBGB (225,000ha). Any ground staked by Sable within 5 kilometres of Westhaven’s existing projects that is subject to a 2.5% NSR. In addition, Westhaven has a 30-day Right of First Refusal (ROFR) on any properties outside this 5-kilometre radius.
On behalf of the Board of Directors
WESTHAVEN VENTURES INC.
“Gareth Thomas”
Gareth Thomas, President, CEO & Director
Westhaven Ventures Inc. is a Canadian based exploration company focused on the acquisition and exploration of prospective resource properties. Westhaven is focused on advancing its Shovelnose, Prospect Valley, Skoonka and Skoonka North gold projects in British Columbia. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-681-5558 or visit Westhaven’s website at www.westhavenventures.com
Qualified Person Statement
Peter Fischl, P.Geo., who is a Qualified Person within the context of National Instrument 43-101, has read and takes responsibility for this release.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/87fd1034-0035-4ae7-9d94-3cff5ef36e8c